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Loan Application
Buying a home starts with a simple application. You’ll provide some basic information, including your income and asset documentation and we will pull credit.
Consultation/Prequalification
We’ll review your financial situation and goals with you to begin looking at your choices and customize a mortgage scenario that best serves you. After establishing a purchase price and loan amount that work for you, we’ll provide a pre-qualification letter for you and your realtor.
Find Your Home
No doubt you’ve already been shopping online, but now it’s time to meet with your realtor, who will help you find the right property and negotiate a purchase price. When your offer has been accepted, your realtor will forward a copy of the sales contract to us so we can have everything ready by your closing date.
Processing
With your offer accepted and contract in hand, we’ll work up a Loan Estimate and revised loan disclosures specific to that property for you to review and provide permission to proceed. We will talk about locking your interest rate, and we’ll order your appraisal. Your loan will be setup and processed as we work to get everything in order to make you a homeowner.
Appraisal
The majority of loans require that a third-party appraiser review the property to ensure it is worth the amount you are offering. The appraiser will evaluate your property against a set of standards based on local specs and send a report back to us.
Underwriting
Once your appraisal is complete, an underwriter will evaluate all aspects of the loan, including the documentation we gathered from you as well as the property documentation, this includes: the contract, supporting documentation, appraisal, and more. When they’re satisfied that all boxes are checked and in-line, your loan is moved to Clear to Close status.
Closing
After the underwriter issues final loan approval, we’ll provide you a Closing Disclosure to review as we prepare your loan documents for the title company. We’ll also provide you with an exact amount required to close and very careful instructions on how to make that payment. The title company will reach out to you to schedule a signing appointment. On closing day, you’ll sign all the paperwork and receive keys to your new home!